Standard&Poor's Ratings Services revised its rating and underlying rating (SPUR) on East Bay Municipal Utility District (EBMUD), Calif.'s existing subordinated water revenue bonds to 'AA+' from 'AA' and assigned its 'AA+' rating to the district's approximately $897 million series 2007 subordinated water revenue bonds. The rating actions reflect the district's: Recent completion of major seismic and capital projects adding to system reliability and potential available water supply, particularly in dry years; Sufficient supply and infrastructure to serve a broad and mature customer service area with above-average income demographics; Strong financial performance, demonstrated by ongoing strong coverage and cash reserves; and A rate structure that remains competitive while keeping pace with inflation. The above strengths mitigate concerns about the
